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Costs and Benefits of Economic Integration in Asia
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Costs and Benefits of Economic Integration in Asia

Robert J. Barro and Jong-Wha Lee

Abstract

The global financial crisis of 2008/09 raised concerns that the world would move toward protectionism and isolationism. One fear was that tariffs and other barriers to international trade would increase, thereby reducing exports and imports of goods and services. Also restrictions on international financial flows might grow, thereby lowering cross-border asset holdings and amounts of foreign direct investment. Increases in trade and financial protectionism clearly pose threats to Asian economies, which rely heavily on external demand as an impetus to growth and are closely linked to global fin ... More

Keywords: global crisis, Asian financial crisis, regional integration, Asia, free-trade agreements, trade integration, financial integration, foreign direct investment, monetary union, global production chain

Bibliographic Information

Print publication date: 2011 Print ISBN-13: 9780199753987
Published to Oxford Scholarship Online: September 2011 DOI:10.1093/acprof:oso/9780199753987.001.0001

Authors

Affiliations are at time of print publication.

Robert J. Barro, editor
Harvard University
Author Webpage

Jong-Wha Lee, editor
Asian Development Bank

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